The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-12-31
DUN g. cos REVIEW.
The Year of Enormous Business Closing
in Fairly Good Style.


in Fairly Good Style.
NEW YORK. Dec. 3O.-The following is r.
G. Dun e. Co.'S review of trade for the
week ending Saturday, Dec. 81: 1.-THE year
OF enormous business closed with little
more than reasonable dullness. Indications,
much beyond the average in September and
| October, prepared for some slackening of
| trade in November and December, which
has been increased by the tariff
uncertainties, by several strikes Of import
ance and by a speculative advance in
prices. The unusual pressure for money
during the fall, on the other hand, caused
adjustments which prevent severe pressure
as the year closes, and except at few
Western points, the money markets are
comparatively easy, with collections almost
| everywhere fair, and at most points reason
ably good.
THE HOLIDAY TRADE.
1.-The holiday trade has generally been
| large, and the recent change in the weather
brings greater activity in some branches
But pending strikes and controversies about
| wages, and uncertainties as to the future in
some of the largest industries, operate I'M
favoraby. Ease of money and belief that
the Reading strike would not
last, have helped stocks to improve
until yesterday, when the day
of activity and an advance after New
Years sustain prices, but the great move
ment of foreign capital hitherward for in
vestment has ceased, at least for time.
In November the trade statistics indicated
that the outgoing slightly exceeded the in
coming goods and capital
EXPORTS AND IMPORTS
"The December exports at New York, .
per cent. below last years against imports
| IL per cent. below, indicate that at least
| S15, 1000, 900 in goods and cash has probably
gone abroad on foreign sales that have ex
| ceeded the purchases of securities If con-
tinued, this movement will affect the
| placing of securities for new roads and thus
| influence great industries The dying year
has seen l2,724 rifles of railway finished,
| making the mileage of the United States
| $50, no, but changes of freight rates at the
West tend steadily toward leSsening
the prospect for building next
year The Pennsylvania company reports
a decrease of s170, 1000 in the net earnings
! for November, and Erie decrease of $24,
23S.
1.-The iron industry, after the largest
| years output on record, is rapidly cutting
| down production, prices, and at many points,
wages. The Thomas company is expected
to announce S21 as its price for
the best iron. Since March the
L
has declined 81 10, and rails So Sales of 90
600 tons of Alabama and Tennessee iron are
reported, but no sales of rails, for which
next years orders cover only 1000 tons.
1.-The Western Nail Association lowers the
card rates from 81 % to 50.
CoTToN's SHOWING.
1.-THE cotton industry records for the year
larger production, sales and profits than for
1886, and the year closes with an excellent
demand, stocks well cleaned up and many
makes sold well ahead, but the wooden manu-
facture is described as having about the
most unsatisfactory year it has ever ex-
perienced, with business smaller than last
year, ami foreign agents are again
offering heavy worsted TO 10
per cent. below last years prices.
| Enormous importations have left a large
stock of dress goods on hand. Overcoatings
| are moving fairly, hut fine grades are at B
| to 10 per cent. decline. The sales of wool at
Boston for the last quarter fell % per cent.
below last year.
COAL PRODUCTION.
THE coal production has been the largest
| ON record, but the market closes with some
! excitement, the Lehigh strike continuing,
while later dispatches indicate that the
Reading miners will strike Jan. /. The
grocery trade has been very large for the
| year and closes with fair activity, notwith-
standing the speculation in coffee and the
rise in sugar, following reports O. a decrease
of 1862, 600 tons in the total product. Pro-
visions hold the recent advance. Beef is
again a shade dearerI There has
| been a rise of six cents
in oil. Cotton, in spite of small receipts,
is a shade lower, but breadstuffs have risen
| wheat and corn about 1c. each
1.-The Treasu. has added $714,000 to its
deposits with the banks, and 81 900, 900 to
the circulation during the week. 1t has
now increased the circulation of coin and
paper about $64, 100000 since July
/, and Sl30,0O0,0O0 since July l,
| 1886. Incomplete returns of clear
| ing house exchanges indicate an aggre-
| gate for the year exceeding $51, 00C, 900, 900,
with gain of about 4 per cent. over last
year, but November showed a small de
crease, and in December the decrease III
payments has been considerable. The year
| returns of failures shows decrease Of 200
| in the number for the year, but the large
increase of $y3, 600 in liabilities. as fol-
| lows:
I'm 1887, number 1884; liabilities, $l67,-
SIC, 944; average 81, 1892
I'm 1886, number 1884; liabilities Sl14,-
| GA, l19; average Sill ,651.
1.-The returns for the Dominion of Canada
show 1882 failures, with Sl6.3l1 ,745 liabih-
! ties, an average of $1l, SOB. The failures in
the Dominion were one in every fifty-fou
| persons in business In the United States
they average one in every Ill persons
PROFIT IN FAILING.